The pace of India’s eight major industries’ output accelerated in January to 6.7 percent from an increase of 4 percent in December 2017 and 3.4 percent in the corresponding month of the previous fiscal, official data showed.
“The combined Index of Eight Core Industries stands at 133.1 in January 2018, which was 6.7 percent higher as compared to the index of January 2017. Its cumulative growth during April to January 2017-18 was 4.3 percent,” the Ministry of Commerce & Industry said.
The ECI index represents the output of major sectors like coal, steel, cement and electricity and carries 40.27 percent weightage of the Index of Industrial Production (IIP) which is the macro-gauge for India’s factory output.
Coal production increased by 3.0 percent, petroleum refinery production by 11.0 percent, steel production by 3.7 percent, cement production by 20.7 percent, and electricity generation increased by 8.2 percent in January 2018.
Crude Oil production declined by 3.2 percent, natural gas production by 1.0 percent and fertilizers production by 1.6 percent in January 2018 over January 2017.